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Investors>Why invest in the Volkswagen Group?

Key Figures

Interactive Key Figure Comparison

H1 2026 Key Figures Volkswagen Group

158.1
billion EUR sales revenue
in H1 2026, at prior-year level (H1 2025: 158.4 billion EUR)
5.9
billion EUR Operating Result
in H1 2026, 11.6% below H1 2025 (6.7 billion EUR); operating return on sales of 3.8%
4.0
million vehicle sales
in H1 2026, 8.4% below H1 2025 (4.4 million vehicles)

Q2

H1

2026

2025

%

2026

2025

%

Volume Data1 in thousands

Deliveries to customers (units)

2,077

2,272

-8.6

4,126

4,405

–6,3

Vehicle sales (units)

2,043

2,263

-9.7

3,997

4,363

-8,4

Production (units)

2,014

2,325

-13.4

4,171

4,519

-7,7

Employees (on Jun. 30, 2026/Dec. 31, 2025)

652.2

662.9

-1,6

Financial Data (IFRS), € million

Sales revenue

82,444

80,806

2.0

158,102

158,364

–0.2

Operating result

3,469

3,834

–9.5

5,931

6,707

–11.6

Operating return on sales (%)

4.2

4.7

3.8

4.2

Earnings before tax

2,538

3,314

–23.4

4,773

6,423

–25.7

Return on sales before tax (%)

3.1

4.1

3.0

4.1

Earnings after tax

1,538

2,291

–32.9

3,103

4,477

–30.7

Automotive Division

Cash flows from operating activities

6,301

5,714

10.3

12,963

10,410

24.5

Cash flows from investing activities attributable to operating activities2

5,128

6,237

–17.8

9,797

11,760

–16.7

Net cash flow

1,172

–523

-

3,166

–1,350

-

Net liquidity at June 30

32,750

28,387

15.4

Investment ratio

10.0

11.6

10.6

11.4

1) Including the equity-accounted joint ventures in China. The prior-year deliveries have been updated based on statistical extrapolation.

2) Excluding acquisitions and disposals of equity investments: Q2 EUR 4,564 (5,563) million; H1 2026 EUR 9,386 (10,397) million.

Key figures by brand group and business field from January 1 to June 30

Vehicle sales

Sales revenue

Operating result

Operating margin

Thousand vehicles/
€ million


2026


2025

2026

2025

2026

2025

2026

2025

Core brand group

2,590

2,527

73,035

72,480

3,611

3,455

4.9

4.8

Progressive brand group

528

574

29,177

32,573

1,122

1,087

3.8

3.3

Sport Luxury brand group1

121

135

15,158

16,138

1,208

832

8.0

5.2

CARIAD

815

564

-855

-1,172

–

–

Battery

88

11

-473

-592

–

–

Brand group Trucks

152

153

21,090

21,195

942

1,245

4.5

5.9

Equity-accounted companies in China2

856

1,242

–

–

Volkswagen Group Mobility

31,574

29,362

1,673

1,811

5.3

6.2

Other3

-249

-267

-12,836

-13,959

-1,048

230

-8.2

1.6

Volkswagen Group

3,997

4,363

158,102

158,364

5,931

6,707

3.8

4.2

1) Including Porsche Financial Services: sales revenue EUR 17,229 (18,157) million, operating result EUR 1,348 (1,007) million.

2) The sales revenue and operating result of the equity-accounted companies in China are not included in the consolidated figures; the share of the operating result generated by these companies amounted to EUR 184 (506) million.

3) In the operating result, mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of purchase price allocation, as well as companies not allocated to the brands.

Five-Year Review


2025202420231202222021






Volume Data (thousands)




Vehicle sales (units)9.0229.0379.3628.4818.576
Germany1.2201.1951.1781.005973
Abroad7.8027.8428.1847.4767.603
Production (units)8.8668.9549.3098.7178.283
Germany1.7891.6861.9141.6481.483
Abroad7.0777.2677.3957.0696.800
Employees (yearly average)667683676669668
Germany287295293289294
Abroad381388383380373






Financial Data (in € million)




Income Statement




Sales revenue321.913324.656322.284279.050250.200
Cost of sales−270.671−265.184−261.299−226.866−202.959
Gross profit51.24359.47260.98552.18447.241
Distribution expenses−22.804−22.320−21.345−19.840−19.228
Administrative expenses−12.541−12.754−12.729−11.655−10.420
Net other operating result−7.029−5.338−4.3821.4211.682
Operating result8.86819.06022.52822.10919.275
Financial result439−2.255570−40851
Earnings before tax9.30716.80623.09922.07020.126
Income tax expense−2.403−4.411−5.237−6.217−4.698
Earnings after tax6.90412.39417.86115.85215.428






Personnel expenses49.08049.78649.75547.00243.677






Balance Sheet (at December 31)




Non-current assets396.602387.674361.005339.853328.261
Current assets247.865245.231239.644224.159200.347
Total assets644.467632.905600.649564.013528.609






Equity203.054196.731189.186178.328146.154
of which: noncontrolling interests14.77714.43714.21812.9521.705
Non-current liabilities214.887219.134205.427202.961218.062
Current liabilities226.525217.039206.036182.723164.393
Total equity and liabilities644.467632.905600.649564.013528.609






Cash flows from operating activities15.00917.15119.35628.49638.633
Cash flows from investing activities attributable to
operating activities		25.06028.85328.03125.45424.181
Cash flows from financing activities11.91811.14016.0084.225−7.754

1) The year 2023 was adjusted.

2) The year 2022 was adjusted.

The specified fuel consumption and emission data does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO₂ emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Further information on official fuel consumption data and official specific CO₂ emissions for new passenger cars can be found in the "Guide to fuel economy, CO₂ emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at www.dat.de/co2.